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Tech Nation returns: Start-up network set for comeback under Brent Hoberman

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City Editor

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London-based tech accelerator Founders Factory has hired the founder of co-working space Second Home to support its international expansion.
London-based tech accelerator Founders Factory has hired the founder of co-working space Second Home to support its international expansion.

The tech start-up network that controversially lost its taxpayer funding this year is set to return under new ownership next month, the group confirmed today.

Tech Nation closed its doors in March after the government pulled its funding and handed the money to Barclays’ Eagle Labs division, in a move that drew the ire of senior figures in tech.

The body’s brand and assets were then snapped up by Lastminute.com co-founder and serial entrepreneur Brent Hoberman’s Founders Forum Group.

In a statement today, Founders Forum confirmed it was set to relaunch Tech Nation in October at Birmingham Tech Week.

“By bringing back Tech Nation, we can act as a lighting rod to support the UK’s most exciting businesses and founders, bringing together a full spectrum of brilliant talent and growing a new generation of global powerhouse companies,” said Hoberman in a statement.

“At a time when cities and markets around the world are competing for the best and brightest, we will help the UK continue its momentum as the European magnet for technology entrepreneurs.”

The closure of Tech Nation triggered concerns over the future of its global talent visa programme which granted thousands of tech workers access to work in the UK.

In its statement today, Founders Forum confirmed Tech Nation would continue to act as the endorsing body for the programme, and applications “continue to be processed as normal while the Home Office work to confirm the long-term option for the endorsement of digital technology applications”.

“Details will be published on gov.uk as soon as possible,” the group added.

More than £28bn has been raised by alumni of the Tech Nation’s accelerator programmes, which include Monzo, Deliveroo and Darktrace.

The group, which began life as Tech City to support businesses around Silicon Roundabout during Prime Minister David Cameron’s first term in 2010, has processed more than 6,000 Global Talent Visa applications since its inception and endorsed more than 3,000.